Victory Capital Price Target Raised to $64.00

Victory Capital (NASDAQ:VCTR – Get Free Report) received an increase in its price target by analysts at UBS Group, who raised it from $49.00 to $64.00 in a recent report. This adjustment was made in a note issued to investors on Tuesday. UBS Group currently maintains a “neutral” rating on the stock, suggesting it sees a potential upside of 10.34% from the company’s last closing price.

Several other analysts have also shared insights regarding Victory Capital. Barclays began coverage on the stock with an “equal weight” rating, setting a price target of $58.00 on August 27th. On August 12th, Bank of America uplifted its price target from $58.00 to $59.00 while maintaining a “buy” rating. Additionally, on October 18th, Morgan Stanley changed its stance from “underweight” to “equal weight” and revised its target from $40.00 to $60.00. JPMorgan Chase & Co. also increased its price objective from $45.00 to $49.00 and gave the stock a “neutral” rating on August 19th. The Goldman Sachs Group followed suit, raising its target from $59.50 to $60.00 with a “buy” rating on October 3rd. Overall, four analysts recommend holding the stock while five suggest buying, leading to an average rating of “Moderate Buy” with a price target of $59.67 according to MarketBeat data.

Victory Capital Trading Summary

As of Tuesday, VCTR shares opened at $58.00. The stock's performance over the past year shows a 52-week low of $28.66 and a high of $61.68. The company's financial metrics include a debt-to-equity ratio of 0.87, a quick ratio of 0.91, and a current ratio of 0.91. The 50-day and 200-day moving averages stand at $55.08 and $51.55, respectively. Victory Capital has a market capitalization of approximately $3.75 billion and a PE ratio of 17.79.

Victory Capital’s most recent earnings report was for the quarter ended August 8th, where it reported earnings per share (EPS) of $1.30, slightly surpassing analysts' expectations of $1.26. The company recorded a net margin of 27.87% and a return on equity of 29.74%. Revenues for the quarter totaled $219.62 million, compared to analyst estimates of $220.82 million. Analysts predict that Victory Capital will achieve an EPS of 5.19 for the current year.

Institutional Investor Activity

Recent activity shows hedge funds have modified their positions in Victory Capital. Goldman Sachs Group Inc. increased its holdings by a significant 426.9% during the fourth quarter, now owning 589,710 shares worth $20.31 million after acquiring additional shares. Vanguard Group Inc. also grew its stake by 3.4% during the same period, holding a total of 3,212,173 shares valued at $110.63 million. Diversified Trust Co. lifted its shares in Victory Capital by 13.6%, while Allspring Global Investments Holdings LLC increased its position by 88.7%. Legacy Wealth Asset Management LLC expanded its holdings by 48.1% in the first quarter. Currently, about 87.71% of the stock is owned by institutional investors and hedge funds.

About Victory Capital

Victory Capital Holdings, Inc., along with its subsidiaries, functions as an asset management firm both in the United States and internationally. The company provides investment advisory, fund administration, compliance, transfer agent services, distribution, and various management services. It offers specialized investment strategies for institutions, intermediaries, retirement platforms, and individual investors.

Victory, Capital, Analysts